Asbestos in Real Estate: Understanding the Risks and Compliance in Light of Recent Law Changes
Toshihiko Yamamoto, CCIM, MBA
Founder and President | Real Estate Broker I Licensed Real Estate Agent, Real Estate Investing, Licensed Agent, CCIM, MBA
Introduction
Purpose and Overview
In October 2023, new regulations made asbestos inspections mandatory for many property-related activities.
Understanding these requirements is crucial for anyone planning renovations or demolition.
Failing to comply with the law can lead to significant penalties, making it essential to be informed and prepared.
?Background and Importance of Legal Revision
Asbestos is known for its durability and resistance to heat, making it a popular choice in construction for decades.
However, its health risks—particularly when its fine fibres are disturbed and released into the air—are well-documented.
The legal revisions that took effect in recent years aim to minimize these risks by enforcing stricter management and removal procedures.
These changes are not just bureaucratic; they are a critical step in protecting public health.
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Understanding Asbestos and Its Risk